By Mary Regan, Irish Examiner Political Editor
The Government claims the €1bn package of welfare hikes, reduced income tax and a public recruitment drive signals the end of a punishing age of austerity in a country battered by a spectacular economic nosedive.

Fáilte Ireland and the Restaurants Association of Ireland have said that the retention of the 9% VAT rate for the hospitality sector will help to maintain the sector's current level of employment growth.

Increases in child benefit, a partial restoration of the Christmas bonus scheme, changes to the entry level of the Universal Social Charge and two new USC rates for higher earners and the self employed.

In delivering his Budget 2015 speech, Finance Minister Michael Noonan confirmed a phasing out of controversial tax arrangements - known as the "Double Irish" - which allows multinational companies to slash their tax bills by locating in Ireland.